The global CRISPR technology market Growth Accelerated by Increasing Demand for Gene Therapy

 
CRISPR Technology Market 

CRISPR technology is a gene-editing tool that allows researchers to alter DNA sequences and modify gene function. It helps in diagnosing and treating various genetic disorders like cystic fibrosis, sickle cell anemia, and cancer. CRISPR is being widely used by scientists and researchers for developing new gene therapies which can potentially cure genetic diseases. The increasing cases of genetic disorders and growing demand for effective therapies is driving the growth of the CRISPR technology market.

The global CRISPR technology market is estimated to be valued at US$ 3198.65 Mn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing demand for gene therapy for treating various genetic disorders is one of the major trends in the CRISPR technology market. With the help of CRISPR, scientists are developing new gene therapies which can edit genes inside the body and potentially cure genetic conditions. Continuous research and development activities are ongoing to enhance the efficiency and precision of CRISPR for making it a viable therapeutic option. Several clinical trials are also being conducted to evaluate the safety and efficacy of CRISPR-based gene therapies. This is expected to boost the adoption of CRISPR technology in the healthcare industry during the forecast period.


Segment Analysis

The global CRISPR technology market is dominated by the products and services segment. Within products and services, the kits and reagents segment accounts for the largest share as majority of research activities are carried out using kits and reagents. The demand for kits and reagents is high due to increasing gene editing and modification research activities among academic institutes and biotechnology and pharmaceutical companies.

Key Takeaways

The Global CRISPR Technology Market Share is expected to witness high growth over the forecast period. The global CRISPR technology market is estimated to be valued at US$ 3198.65 Mn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030.


Regional analysis

North America currently holds the largest share in the global CRISPR technology market primarily attributed to strong presence of leading CRISPR technology providers and growing investments for genomics and biotechnology research in the region. The Asia Pacific region is anticipated to witness the highest growth rate during the forecast period. This is majorly accredited to increasing government investments for genomics and stem cell research coupled with growing outsourcing of clinical research to countries including China, India and South Korea.

Key players

Key players operating in the CRISPR technology market are Intertek Group Plc, SGS SA, Eurofins Scientific SE, Thermo Fisher Scientific, Inc., ALS Limited, Asurequality Limited, Bio-Rad Laboratories, Inc., and Bureau Veritas SA. The market leaders are focusing on new product launches and acquisitions to strengthen their global presence. For instance, in November 2023, Thermo Fisher Scientific acquired The RNA Company for $1.15 billion to enhance its capabilities in RNA targeted technologies including CRISPR.

For more details on the report, Read- https://www.insightprobing.com/crispr-technology-market-size-and-share/

Get more insights on this topic: https://www.shayaricenter.com/intoxicating-elixirs-and-cultural-spirits-navigating-indias-rich-tapestry-of-alcohol

Comments

Post a Comment

Popular posts from this blog

The Notchback Market is Estimated To Witness High Growth Owing To Rising Demand From Emerging Economies

Image
  Notchback Market Market Overview: A notchback is a body style of cars characterized by a gently sloped rear window and greenhouse. Notchbacks provide practical interior space with good cargo capacity. They offer balanced interior volume for passengers and cargo along with sleek and stylish exterior design. The body style has advantages like no C-pillar which enhances visibility compared to sedans. Market key trends: The growth of the notchback market is attributed to rising demand from emerging economies like China, India and Brazil. These nations have growing middle-class population and increasing disposable income which is driving vehicle ownership. Moreover, notchback body style is quite popular in these developing markets due to its spacious cabin combined with stylish looks at affordable prices. Leading automakers are launching various notchback models to cater to the surging demand from developing countries, which is fueling the growth of the notchback market size during ...
Read more

The Bladder Liners Market Is Estimated To Witness High Growth Owing To Rising Prevalence Of Urinary Incontinence

Image
  Bladder Liners Market Market Overview: Benzodiazepines are a class of psychoactive drugs belonging to the benzodiazepine family. These drugs are prescribed for various medical conditions such as anxiety disorders, panic disorders, insomnia, seizures, alcohol withdrawal syndrome, muscle spasms, and as an anesthesia aid. Some common examples of benzodiazepines include alprazolam, clonazepam, diazepam, and lorazepam. These drugs work by increasing the action of gamma-aminobutyric acid (GABA), a major inhibitory neurotransmitter in the central nervous system. Due to their calming properties, they are widely used to treat insomnia, anxiety, panic attacks, agitation, seizures, muscle spasms, and alcohol withdrawal. Market Dynamics: The Benzodiazepine Drugs Market is primarily driven by the rising prevalence of anxiety disorders worldwide. As per Anxiety and Depression Association of America, anxiety disorders are the most common mental illness in the U.S., affecting nearly 40 million ...
Read more

Commercial Drones Market is Poised to Register Notable Growth Owing to Expanding Usage Across Varied Industries

Image
  Commercial Drones Market  The commercial drones market has been gaining significant traction over the recent years primarily driven by expanding deployment across various industries including agriculture, infrastructure, disaster management, and transportation among others. Commercial drones offer several advantages including cost-effectiveness, flexibility, precision and real-time monitoring capabilities. Meanwhile, growing popularity of drone delivery services across e-commerce as well as healthcare sectors has further catalyzed the market growth. Drones help in reducing operational costs while effectively meeting the target delivery timelines. Additionally, continuous technological advancements have resulted in miniaturization and development of drones with increased payload capacity and battery life. The Global commercial drones market is estimated to be valued at US$ 22.29 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031. Key T...
Read more